Nov 10, 2008
Inter Parfums Q3 profit rises on new brand launches
Nov 10, 2008
* Q3 sales rise 21 pct to $123.5 mln
* Q3 profit up 9 pct
* Reaffirms full-yr outlook
Nov 10 (Reuters) - Fragrance maker Inter Parfums Inc posted a 9 percent rise in quarterly net profit, driven by higher revenue as it saw successful brand launches and strong sales of Burberry perfumes.
The company, which launched Van Cleef & Arpels Feerie and Jeanne Lanvin earlier in the quarter, said these launches formed a big portion of its sales rise.
"Burberry fragrance sales have continued to increase with this year's growth driven by the successful worldwide launch of the new women's line Burberry The Beat," the company said in a statement.
The company, which is the worldwide licensee of Burberry, reported net profit of $6.2 million, or 20 cents a share, compared with $5.7 million, or 18 cents a share, in the year-ago quarter.
Inter Parfum, whose other perfume brands include Christian Lacroix, Lanvin, Nickel, S.T. Dupont and Quiksilver/Roxy, also reaffirmed its full-year earnings view of 87 cents a share on sales of $460 million.
Shares of the company closed at $9.90 Monday on Nasdaq.
For the alerts, please click (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Anil D'Silva)
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